Oh, it would be way worse, because communism is always way worse.
I think it would still be terrible even if there were no USA. If there were no USA, whatever brought them down would have collapsed the entire world’s economy and there would be thousands of nukes lying around.
I’d rather be a billionaire in the US because my English is better than my Mandarin. Quality of life would be exactly the same at that income bracket wherever you live in the world. Labor protection would be weaker in China though, if I were looking to exploit my workers…